Sunnyslope Village Center Purchased and New Owners Promised Revitalization

Sunnyslope Village Center in north Phoenix was recently purchased by Whitestone REIT for $6.4 million. The center is located on the southeast corner of Central and Dunlap avenues and it accommodates approximately 112,000 square feet of retail space. The property will be renovated with new paint and signage, and minor facade improvements. Whitestone also will aggressively seek a grocer to lease approximately 43,000 square feet as well as other tenants. This investment is another step in the continued revitalization of Sunnyslope and its exciting to have a new property owner that wants to meet the needs of the local community, said Councilman Bill Gates. Due in part to the city of Phoenix revitalization efforts, we have seen the demolition of Sunset Manor, which will lead to new housing and other transit-oriented development, and the development of restaurants, retail shops and streetscapes along the Hatcher Road and central slope area (from the canal north of Central Avenue) spurred by community and private developers. "We are pleased to announce our expanded presence in Phoenix, one of the fastest-growing cities in the country. Sunnyslope Village Center is situated in a culturally diverse neighborhood with a rich history and substantial growth potential," said James C. Mastandrea, Whitestone's chairman and chief executive officer. Sunnyslope Village Center is located across the street from John C. Lincoln Hospital, the major employer in the area, and within a quarter mile of Sunnyslope High School.